The multi meter idea is good for few cables, but cumbersome for a lot of cables, because in each cable you have to test at least four separate wires.
It is possible for about $20 to build a little box (RadioShack Project Box), with battery and 4 LED?s.
You put on both side of the box RJ-45 (female), and you connect the LED?s so that they will light only if there is connections between the right pins.
Of course, this will test only continuity of connection.
Unfortunately I cannot draw a schematic, and post it here since no graphic allowed.